Stock Analysis on Net

ServiceNow Inc. (NYSE:NOW)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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ServiceNow Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

Microsoft Excel
Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Accounts payable
Accrued expenses and other current liabilities
Current portion of deferred revenue
Current portion of operating lease liabilities
Current debt, net
Current liabilities
Deferred revenue, less current portion
Operating lease liabilities, less current portion
Long-term debt, net, less current portion
Other long-term liabilities
Long-term liabilities
Total liabilities
Preferred stock, $0.001 par value; no shares issued or outstanding
Common stock, $0.001 par value
Treasury stock, at cost
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings (accumulated deficit)
Stockholders’ equity
Total liabilities and stockholders’ equity

Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).


Total liabilities exhibited a generally increasing trend over the observed period, rising from US$5,785 million in March 2021 to US$13,074 million in December 2025. This growth was not linear, with periods of slower increase and more rapid expansion, particularly noticeable between September 2022 and December 2025. Stockholders’ equity also demonstrated an upward trajectory, increasing from US$3,037 million in March 2021 to US$12,964 million in December 2025. Consequently, total liabilities and stockholders’ equity grew substantially, from US$8,822 million to US$26,038 million over the same timeframe.

Current Liabilities
Current liabilities fluctuated throughout the period, beginning at US$3,664 million in March 2021 and peaking at US$7,365 million in March 2023 before increasing again to US$10,443 million in December 2025. A significant portion of this is attributable to the growth in the current portion of deferred revenue, which increased from US$2,994 million to US$8,314 million. Accrued expenses and other current liabilities also contributed to the overall increase, rising from US$484 million to US$1,813 million. Accounts payable showed more volatility, with increases and decreases throughout the period, ending at US$204 million in December 2025, significantly lower than the US$109 million in March 2021.
Long-Term Liabilities
Long-term liabilities showed a more consistent, albeit moderate, increase. Starting at US$2,121 million in March 2021, they rose to US$2,631 million by December 2025. Long-term debt, net, less current portion, remained relatively stable, fluctuating around US$1,485 million to US$1,491 million for most of the period. Other long-term liabilities increased steadily, from US$40 million to US$220 million, indicating a growing reliance on these types of financing. Operating lease liabilities, both current and long-term portions, also increased over the period, though at a slower pace than deferred revenue.
Stockholders’ Equity Components
Within stockholders’ equity, retained earnings experienced the most substantial growth, moving from a deficit of US$-152 million in March 2021 to a positive balance of US$5,242 million in December 2025. Additional paid-in capital also increased significantly, from US$3,133 million to US$10,747 million. Treasury stock consistently decreased, becoming a larger negative value over time, from no value in March 2021 to US$-3,045 million in December 2025, suggesting ongoing share repurchase activity. Accumulated other comprehensive income (loss) fluctuated, ending at US$19 million in December 2025, a modest increase from US$56 million in March 2021.

The overall trend indicates a significant expansion in both liabilities and equity, driven primarily by increases in deferred revenue, retained earnings, and additional paid-in capital. The company appears to be effectively managing its long-term debt, with relatively stable levels. The fluctuations in accounts payable and accrued expenses suggest active management of short-term obligations. The consistent reduction in treasury stock indicates a commitment to returning value to shareholders through share repurchases.